Rice export projections revised upwards

The Thai Rice Exporters Association on Wednesday revised upwards the rice export volume projection for this year to 9 million tonnes from the previous forecast of 7.5 million tonnes.

The higher export volume is due to the low price of Thai rice and higher demand in the world market. Chookiat Ophaswongse, president of the association, said the price of Thai rice price was currently lower than that of its competitors because the previous government had accelerated the release of rice from its stockpiles. The depreciation in the value of the baht value has also led to the cheaper price.